Red20: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Red20
Largest movements
- Receivables after one year +€46,306
up €46,306 (+125.7%), from €36,836 to €83,142
- Cash -€31,819
down €31,819 (-69.3%), from €45,924 to €14,105
mainly Receivables after one year (-€46,306) and Contributions, distributions and other (-€29,883)
- Tangible fixed assets -€2,136
down €2,136 (-54.6%), from €3,912 to €1,775
- Other debts +€38,063
up €38,063 (+537.2%), from €7,086 to €45,148
- Profit (loss) carried forward -€17,068
down €17,068 (-100.0%), from €17,068 to €0
- Accrued charges and deferred income -€8,435
down €8,435 (-91.2%), from €9,250 to €815
- Trade debts +€1,105
up €1,105 (+64.4%), from €1,716 to €2,821
- Gross operating margin -€6,809
down €6,809 (-24.1%), from €28,222 to €21,413
- Depreciation -€1,365
down €1,365 (-28.4%), from €4,799 to €3,434
- Taxes -€786
down €786 (-17.2%), from €4,565 to €3,779
- Financial income +€587
up €587 (+58.0%), from €1,012 to €1,599
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,684 | €100,563 | +€12,879 | +14.7% |
| Fixed assets | 21/28 | €3,912 | €1,775 | -€2,136 | -54.6% |
| Tangible fixed assets | 22/27 | €3,912 | €1,775 | -€2,136 | -54.6% |
| Plant, machinery and equipment | 23 | €3,912 | €1,775 | -€2,136 | -54.6% |
| Current assets | 29/58 | €83,772 | €98,788 | +€15,016 | +17.9% |
| Amounts receivable after more than one year | 29 | €36,836 | €83,142 | +€46,306 | +125.7% |
| Other amounts receivable | 291 | €36,836 | €83,142 | +€46,306 | +125.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €582 | €439 | -€143 | -24.6% |
| Other amounts receivable | 41 | €582 | €439 | -€143 | -24.6% |
| Cash at bank and in hand | 54/58 | €45,924 | €14,105 | -€31,819 | -69.3% |
| Deferred charges and accrued income | 490/1 | €430 | €1,102 | +€672 | +156.5% |
| Total equity and liabilities | 10/49 | €87,684 | €100,563 | +€12,879 | +14.7% |
| Equity | 10/15 | €65,067 | €47,999 | -€17,068 | -26.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €42,999 | €42,999 | = | 0.0% |
| Distributable reserves | 133 | €42,999 | €42,999 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,068 | €0 | -€17,068 | -100.0% |
| Amounts payable | 17/49 | €22,617 | €52,564 | +€29,947 | +132.4% |
| Amounts payable within one year | 42/48 | €13,366 | €51,748 | +€38,382 | +287.2% |
| Trade debts | 44 | €1,716 | €2,821 | +€1,105 | +64.4% |
| Suppliers | 440/4 | €1,716 | €2,821 | +€1,105 | +64.4% |
| Taxes, remuneration and social security | 45 | €4,565 | €3,779 | -€786 | -17.2% |
| Taxes | 450/3 | €4,565 | €3,779 | -€786 | -17.2% |
| Other amounts payable | 47/48 | €7,086 | €45,148 | +€38,063 | +537.2% |
| Accrued charges and deferred income | 492/3 | €9,250 | €815 | -€8,435 | -91.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,799 | €3,434 | -€1,365 | -28.4% |
| Other operating charges | 640/8 | €728 | €693 | -€35 | -4.7% |
| Gross operating margin | 9900 | €28,222 | €21,413 | -€6,809 | -24.1% |
| Operating profit (loss) | 9901 | €22,695 | €17,285 | -€5,409 | -23.8% |
| Financial income | 75/76B | €1,012 | €1,599 | +€587 | +58.0% |
| Recurring financial income | 75 | €1,012 | €1,599 | +€587 | +58.0% |
| Financial charges | 65/66B | €2,074 | €2,289 | +€215 | +10.4% |
| Recurring financial charges | 65 | €2,074 | €2,289 | +€215 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | €21,632 | €16,595 | -€5,038 | -23.3% |
| Income taxes | 67/77 | €4,565 | €3,779 | -€786 | -17.2% |
| Profit (loss) for the period | 9904 | €17,068 | €12,816 | -€4,252 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,068 | €12,816 | -€4,252 | -24.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.